Nearly 6,700 new companies launched in April

ANKARA-Anadolu Agency

In Turkey, some 6,693 companies were established in April, the top trade union of the country reported on May 17.

The Turkish Union of Chambers and Commodity Exchanges (TOBB) said the number of new company launches last month fell 20.85% year-on-year.

Official figures revealed that 1,098 companies with foreign partners were established in April.

"592 of these companies had Turkish partners, 73 had Iranian partners and 72 had Syrian partners," TOBB said.

The trade union also noted that 726 companies were closed in April, marking a 25.61% annual hike.

In the January-April period, the country saw 28,722 new company launches while 3,918 companies shut down.

Last year, more than 85,000 new companies were established -- up 17% from 2017 -- while some 12,500 companies went out of business.

On June 21, TOBB will release related figures for May.